Bot Security Market

Analysts at GMI Research estimates that the Bot Security Market was worth USD 329 million in 2020, and forecast to touch USD 1,368 million in 2028, growing at a significant higher CAGR of 19.5% from 2021-2028.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the market include the increasing demand for bot security applications due to the increasing number of attacks globally. According to Imperva bad bot report 2021, the explosive growth of bot activity in the sporting and gambling market mirrors similar activities in industries such as e-commerce and healthcare. The report stated that in 2020, 27.7% of total web traffic on gaming and gambling sites was linked with an advanced persistent bot (APB) – a bot that behaves like humans and is harder to detect and stop. Increasing Account Takeover (ATO) and loss of revenue for the organization has led to market growth. ATO is a form of fraud where cybercriminals use a botnet to get illegal access to accounts belonging to someone else. An Account Takeover can lead to financial fraud, stealing personally identifiable information, or sensitive business information. According to Imperva bad bot report 2021, on an average, websites face an ATO attack around 16% of the time. Hence, the increasing awareness regarding data privacy will propel market growth. Stringent government regulation regarding data privacy increases bot security and protection integration into existing anti-virus and WAF programs. According to United Nations Conference on Trade and Development, 66% of countries globally had legislation to secure data protection and privacy.

Restraint in the Bot Security Market

However, cybercrime is becoming a profit-driven industry. Ideological and state-driven attack trends directed at organizations to promote political affairs or carry out cyber-warfare acts are spotted around the globe, where organizations find it challenging to handle these attacks.

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Component – Segment Analysis

Based on the component, services are expected to grow at higher CAGR in the global Bot Security market during the forecast period. The increasing adoption of bot security platforms also boosts the demand for services such as deploying, executing, and maintaining the bot security platform in an organization. The hacker is using advanced technology such as AI and ML to sophisticate the bot to mimic human behavior. In this case, bot security platforms are required to be trained, supported, and maintained to prevent attacks. For instance, in June 2020, Akamai Technologies mitigated sophisticated 1.44 Tbps and 385 Mpps DDoS attacks that ended in two hours.

End-User Industry – Segment Analysis

Based on the end-user industry, e-Commerce is expected to grow at a higher CAGR over the forecast period. The increasing attack on e-commerce companies by the bad bot will propel market growth. According to Imperva bad bot report 2021, 30.8% of traffic on e-commerce sites are bots. e-Commerce companies are hit by bad bot tactics such as, sneaker bots, price scraping, grinch bots and abuse. However, according to the report, as the volume of sales has risen, so has the volume of cyber-attack targeting e-commerce sites.

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Regional – Segment Analysis:

Based on the region, the North America region is expected to grow at a higher CAGR over the forecast period. The existence of key players such as Akamai Technologies, Imperva, Microsoft, Amazon Web Services, Inc, among others, will boost the market growth in the region. The North America region with strong economy is expected to contribute to bot security market growth significantly. According to Cloudflare, Inc. statistics, North America is a significant automated traffic source, with around 50% of automated traffic from the region. They also contribute around 80% of all verified bot traffic.

Top Market Players

Various notable players operating in the market, include, Imperva, Akamai Technologies, Radware, DataDome, Cloudflare, Inc., F5, Inc., Reblaze Technologies Ltd., Microsoft, Amazon Web Services, Inc, Sophos Ltd., among others.

Key Developments:

• • In 2021, Imperva introduced the data privacy solution to help an organization discover, identify, and protect personal data in any on-prem, cloud, hybrid, and multi-cloud environment.
  • In 2021, Akamai Technologies acquired Gaurdicore to extend its Zero Trust solution to help in stopping ransomware.

Segments covered in the Report:

The global Bot Security market has been segmented on the basis of component, deployment type, end-user industry, and region. Based on component, the market is segmented into solution, and services. Based on deployment type, the market is segmented into cloud, and on-premises. Based on end-user industry, the market is segmented into retail, IT & telecom, government & defence, BFSI, e-Commerce, media & entertainment, and Others.

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Key questions answered in this research report:

• • At what pace is global bot security market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in bot security market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global bot security market?
  • Which component generated maximum revenues in 2020 and identify the most promising component during the forecast period?
  • What are the various deployment type areas of global bot security market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Bot Security Market by Component

• • Solution
  • Services

Global Bot Security Market by Deployment Type

• • Cloud
  • On-premises

Global Bot Security Market by End-User Industry

• • Retail
  • IT & Telecom
  • Government & Defence
  • BFSI
  • e-Commerce
  • Media & Entertainment
  • Others

Global Bot Security Market by Region

• • North America Bot Security Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By End-User Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Bot Security Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By End-User Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Bot Security Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By End-User Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Bot Security Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Deployment Type
    • By End-User Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Bot Security (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Imperva
  • Akamai Technologies
  • Radware
  • DataDome
  • Cloudflare, Inc.
  • F5, Inc.
  • Reblaze Technologies Ltd.
  • Microsoft
  • Amazon Web Services, Inc
  • Sophos Ltd.